Calm down

12/10/2010

Yesterday we reported that Liverpool FC could go into administration should Tom Hicks decide to appeal any decision that goes against him in the high court today, but according to the GuardianThe Royal Bank of Scotland will not force the club into administration should the judge find in their favour regarding the sale of the club to New England Sports Ventures.

However, should the court find in Hick’s favour, RBS, which is owed the majority of the club’s £237million debt, may decide to put the club in administration. RBS have also been granted an interim injunction which stops Hick and Gillett from trying to sack any of the club’s directors. Liverpool fans will have their fingers crossed that the sale goes through – not only would administration be a psychological blow, they would have nine points deducted by the Premier League.

‘Among other things, that interim injunction prevents Mr Hicks or Mr Gillett taking any steps to remove or replace Mr Broughton from his position as chairman of the board of the Kop companies or from taking any other steps to appoint or remove any directors from the board of the Kop companies,’ RBS said in a statement.

‘The proceedings represent the continuation of Friday's proceedings and relates to breach of contract only. These proceedings do not represent steps by RBS to enforce its security or to appoint an administrator.’